# Europeiska unionens C 266/2010

| | ISSN 1725-2504
  doi:10.3000/17252504.C_2010.266.swe |
| --- | --- |
| Europeiska unionens
  officiella tidning | C 266 |
| | |
| Svensk utgåva | Meddelanden och upplysningar | 53 årgången1 oktober 2010 |

ISSN 1725-2504

doi:10.3000/17252504.C_2010.266.swe

Europeiska unionens

officiella tidning

C 266

Svensk utgåva

Meddelanden och upplysningar

53 årgången1 oktober 2010

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| Informationsnummer | Innehållsförteckning | Sida |
| --- | --- | --- |
| | II   Meddelanden |
| | MEDDELANDEN FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN |
| | Europeiska kommissionen |
| 2010/C 266/01 | Tillstånd till statligt stöd enligt artiklarna 87 och 88 i EG-fördraget – Fall i vilka kommissionen inte gör några invändningar (
  1
  ) | 1 |
| 2010/C 266/02 | Beslut om att inte göra invändningar mot en anmäld koncentration (Ärende COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  ) | 2 |

Informationsnummer

Innehållsförteckning

Sida

II   Meddelanden

MEDDELANDEN FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN

Europeiska kommissionen

2010/C 266/01

Tillstånd till statligt stöd enligt artiklarna 87 och 88 i EG-fördraget – Fall i vilka kommissionen inte gör några invändningar (
  1
  )

1

1

2010/C 266/02

Beslut om att inte göra invändningar mot en anmäld koncentration (Ärende COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport) (
  1
  )

1

2

| | IV   Upplysningar |
| --- | --- |
| | UPPLYSNINGAR FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN |
| | Europeiska kommissionen |
| 2010/C 266/03 | Eurons växelkurs | 3 |

IV   Upplysningar

UPPLYSNINGAR FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN

Europeiska kommissionen

2010/C 266/03

Eurons växelkurs

3

| | V   Yttranden |
| --- | --- |
| | FÖRFARANDEN FÖR GENOMFÖRANDE AV DEN GEMENSAMMA HANDELSPOLITIKEN |
| | Europeiska kommissionen |
| 2010/C 266/04 | Tillkännagivande om de antidumpningsåtgärder som tillämpas på import till unionen av visst slags polyetentereftalat med ursprung i bland annat Malaysia: ändring av namnet på ett företag som omfattas av en individuell antidumpningstullsats | 4 |
| | FÖRFARANDEN FÖR GENOMFÖRANDE AV KONKURRENSPOLITIKEN |
| | Europeiska kommissionen |
| 2010/C 266/05 | Statligt stöd – Österrike – Statligt stöd C 16/09 – Hypo Group Alpe Adria (HGAA) – Uppmaning enligt artikel 108.2 i EUF-fördraget att inkomma med synpunkter (
  1
  ) | 5 |
| 2010/C 266/06 | Förhandsanmälan av en koncentration (Ärende COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  ) | 11 |
| 2010/C 266/07 | Förhandsanmälan av en koncentration (Ärende COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Ärendet kan komma att handläggas enligt ett förenklat förfarande (
  1
  ) | 12 |

V   Yttranden

FÖRFARANDEN FÖR GENOMFÖRANDE AV DEN GEMENSAMMA HANDELSPOLITIKEN

Europeiska kommissionen

2010/C 266/04

Tillkännagivande om de antidumpningsåtgärder som tillämpas på import till unionen av visst slags polyetentereftalat med ursprung i bland annat Malaysia: ändring av namnet på ett företag som omfattas av en individuell antidumpningstullsats

4

FÖRFARANDEN FÖR GENOMFÖRANDE AV KONKURRENSPOLITIKEN

Europeiska kommissionen

2010/C 266/05

Statligt stöd – Österrike – Statligt stöd C 16/09 – Hypo Group Alpe Adria (HGAA) – Uppmaning enligt artikel 108.2 i EUF-fördraget att inkomma med synpunkter (
  1
  )

1

5

2010/C 266/06

Förhandsanmälan av en koncentration (Ärende COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45) (
  1
  )

1

11

2010/C 266/07

Förhandsanmälan av en koncentration (Ärende COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV) – Ärendet kan komma att handläggas enligt ett förenklat förfarande (
  1
  )

1

12

| | |
| --- | --- |
| | (1)   Text av betydelse för EES |

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(1)   Text av betydelse för EES

1

| SV | |
| --- | --- |

SV

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II Meddelanden

MEDDELANDEN FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN

Europeiska kommissionen

| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/1 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/1

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Tillstånd till statligt stöd enligt artiklarna 87 och 88 i EG-fördraget

Fall i vilka kommissionen inte gör några invändningar

(Text av betydelse för EES)

2010/C 266/01

| Datum för antagande av beslutet | 23.2.2009 |
| --- | --- |
| Referensnummer för statligt stöd | N 727/07 |
| Medlemsstat | Italien |
| Region | Veneto |
| Benämning (och/eller stödmottagarens namn) | Istituzione del «Fondo di rotazione per le agrienergie» |
| Rättslig grund | Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter |
| Typ av stödåtgärd | Stödordning |
| Syfte | Miljöskydd |
| Stödform | Räntestöd |
| Budget | Totalt planerat stödbelopp 30 miljoner EUR |
| Stödnivå | 80 % |
| Varaktighet | till den 31.12.2010 |
| Ekonomisk sektor | Elektricitet, gas och vatten |
| Den beviljande myndighetens namn och adress | Giunta Regionale Regione Veneto |
| Palazzo Balbi |
| 3013 Venezia VE |
| ITALIA |

Datum för antagande av beslutet

23.2.2009

Referensnummer för statligt stöd

N 727/07

Medlemsstat

Italien

Region

Veneto

Benämning (och/eller stödmottagarens namn)

Istituzione del «Fondo di rotazione per le agrienergie»

Rättslig grund

Legge regionale 12 dicembre 2003 n. 40 «Nuove norme per gli interventi in agricoltura» articolo 58 ter

Typ av stödåtgärd

Stödordning

Syfte

Miljöskydd

Stödform

Räntestöd

Budget

Totalt planerat stödbelopp 30 miljoner EUR

Stödnivå

80 %

Varaktighet

till den 31.12.2010

Ekonomisk sektor

Elektricitet, gas och vatten

Den beviljande myndighetens namn och adress

Giunta Regionale Regione Veneto

Palazzo Balbi

3013 Venezia VE

ITALIA

Övriga upplysningar

—

Giltiga språkversioner av beslutstexten, med undantag av konfidentiella uppgifter, finns på följande webbplats:

http://ec.europa.eu/community_law/state_aids/state_aids_texts_sv.htm

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| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/2 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/2

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Beslut om att inte göra invändningar mot en anmäld koncentration

(Ärende COMP/M.5741 – CDC/Veolia Environment/Transdev/Veolia Transport)

(Text av betydelse för EES)

2010/C 266/02

Kommissionen beslutade den 12 augusti 2010 att inte göra invändningar mot den anmälda koncentrationen ovan och att förklara den förenlig med den gemensamma marknaden. Beslutet grundar sig på artikel 6.1 b i rådets förordning (EG) nr 139/2004. Beslutet i sin helhet finns bara på franska och kommer att offentliggöras efter det att eventuella affärshemligheter har tagits bort. Det kommer att finnas tillgängligt

| — | under rubriken koncentrationer på kommissionens webbplats för konkurrens (http://ec.europa.eu/competition/mergers/cases/). Denna webbplats gör det möjligt att hitta enskilda beslut i koncentrationsärenden, även uppgifter om företag, ärendenummer, datum och sektorer, |
| --- | --- |

—

under rubriken koncentrationer på kommissionens webbplats för konkurrens (http://ec.europa.eu/competition/mergers/cases/). Denna webbplats gör det möjligt att hitta enskilda beslut i koncentrationsärenden, även uppgifter om företag, ärendenummer, datum och sektorer,

| — | i elektronisk form på webbplatsen EUR-Lex (http://eur-lex.europa.eu/sv/index.htm) under dokumentnummer 32010M5741. EUR-Lex ger tillgång till gemenskapslagstiftningen via Internet. |
| --- | --- |

—

i elektronisk form på webbplatsen EUR-Lex (http://eur-lex.europa.eu/sv/index.htm) under dokumentnummer 32010M5741. EUR-Lex ger tillgång till gemenskapslagstiftningen via Internet.

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IV Upplysningar

UPPLYSNINGAR FRÅN EUROPEISKA UNIONENS INSTITUTIONER, BYRÅER OCH ORGAN

Europeiska kommissionen

| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/3 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/3

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Eurons växelkurs (1)

30 september 2010

2010/C 266/03

1 euro =

| | Valuta | Kurs |
| --- | --- | --- |
| USD | US-dollar | 1,3648 |
| JPY | japansk yen | 113,68 |
| DKK | dansk krona | 7,4519 |
| GBP | pund sterling | 0,85995 |
| SEK | svensk krona | 9,1421 |
| CHF | schweizisk franc | 1,3287 |
| ISK | isländsk krona | |
| NOK | norsk krona | 7,9680 |
| BGN | bulgarisk lev | 1,9558 |
| CZK | tjeckisk koruna | 24,600 |
| EEK | estnisk krona | 15,6466 |
| HUF | ungersk forint | 275,75 |
| LTL | litauisk litas | 3,4528 |
| LVL | lettisk lats | 0,7094 |
| PLN | polsk zloty | 3,9847 |
| RON | rumänsk leu | 4,2718 |
| TRY | turkisk lira | 1,9806 |
| AUD | australisk dollar | 1,4070 |
| CAD | kanadensisk dollar | 1,4073 |
| HKD | Hongkongdollar | 10,5918 |
| NZD | nyzeeländsk dollar | 1,8436 |
| SGD | singaporiansk dollar | 1,7942 |
| KRW | sydkoreansk won | 1 550,65 |
| ZAR | sydafrikansk rand | 9,5438 |
| CNY | kinesisk yuan renminbi | 9,1321 |
| HRK | kroatisk kuna | 7,3058 |
| IDR | indonesisk rupiah | 12 173,44 |
| MYR | malaysisk ringgit | 4,2101 |
| PHP | filippinsk peso | 59,869 |
| RUB | rysk rubel | 41,6923 |
| THB | thailändsk baht | 41,442 |
| BRL | brasiliansk real | 2,3201 |
| MXN | mexikansk peso | 17,1258 |
| INR | indisk rupie | 61,2470 |

Valuta

Kurs

USD

US-dollar

1,3648

JPY

japansk yen

113,68

DKK

dansk krona

7,4519

GBP

pund sterling

0,85995

SEK

svensk krona

9,1421

CHF

schweizisk franc

1,3287

ISK

isländsk krona

NOK

norsk krona

7,9680

BGN

bulgarisk lev

1,9558

CZK

tjeckisk koruna

24,600

EEK

estnisk krona

15,6466

HUF

ungersk forint

275,75

LTL

litauisk litas

3,4528

LVL

lettisk lats

0,7094

PLN

polsk zloty

3,9847

RON

rumänsk leu

4,2718

TRY

turkisk lira

1,9806

AUD

australisk dollar

1,4070

CAD

kanadensisk dollar

1,4073

HKD

Hongkongdollar

10,5918

NZD

nyzeeländsk dollar

1,8436

SGD

singaporiansk dollar

1,7942

KRW

sydkoreansk won

1 550,65

ZAR

sydafrikansk rand

9,5438

CNY

kinesisk yuan renminbi

9,1321

HRK

kroatisk kuna

7,3058

IDR

indonesisk rupiah

12 173,44

MYR

malaysisk ringgit

4,2101

PHP

filippinsk peso

59,869

RUB

rysk rubel

41,6923

THB

thailändsk baht

41,442

BRL

brasiliansk real

2,3201

MXN

mexikansk peso

17,1258

INR

indisk rupie

61,2470

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(1)  Källa: Referensväxelkurs offentliggjord av Europeiska centralbanken.

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V Yttranden

FÖRFARANDEN FÖR GENOMFÖRANDE AV DEN GEMENSAMMA HANDELSPOLITIKEN

Europeiska kommissionen

| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/4 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/4

---

Tillkännagivande om de antidumpningsåtgärder som tillämpas på import till unionen av visst slags polyetentereftalat med ursprung i bland annat Malaysia: ändring av namnet på ett företag som omfattas av en individuell antidumpningstullsats

2010/C 266/04

Import av visst slags polyetentereftalat med ursprung i Malaysia omfattas av en slutgiltig antidumpningstull som infördes genom rådets förordning (EG) nr 192/2007 (1),

Hualon Corporation (M) Sdn. Bhd. (nedan kallat Hualon), som är ett företag i Malaysia vars export till unionen av visst slags polyetentereftalat omfattas av en individuell antidumpningstull på 36,0 EUR/ton som infördes genom artikel 1.2 i förordning (EG) nr 192/2007, har underrättat kommissionen om att företagets samtliga malaysiska tillgångar och skulder, efter att företaget ställts under konkursförvaltning, den 23 juli 2008 övertogs av Recron (Malaysia) Sdn. Bhd. (nedan kallat Recron), som blev dess rättsliga efterträdare.

Hualon anför att övertagandet och namnbytet inte inverkar på företagets verksamhet vad gäller den berörda produkten och följaktligen inte heller på Recrons rätt att omfattas av den individuella antidumpningstullsats som tillämpats på Hualon enligt förordning (EG) nr 192/2007.

Kommissionen har undersökt de uppgifter som lämnats och, med hänsyn till att det företag som ansöker om ett namnbyte har tagits över av ett företag som inte tillverkat den berörda produkten tidigare, kommit fram till att namnändringen inte på något sätt påverkar slutsatserna i förordning (EG) nr 192/2007. Hänvisningen i artikel 1.2 i förordning (EG) nr 192/2007 till

Hualon Corp. (M) Sdn. Bhd.

ska därför förstås som en hänvisning till

Recron (Malaysia) Sdn. Bhd.

Taric-tilläggsnummer A186, som tidigare tilldelades Hualon Corp. (M) Sdn. Bhd., ska avse Recron (Malaysia) Sdn. Bhd.

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(1)  EUT L 59, 27.2.2007, s. 1.

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FÖRFARANDEN FÖR GENOMFÖRANDE AV KONKURRENSPOLITIKEN

Europeiska kommissionen

| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/5 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/5

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STATLIGT STÖD – ÖSTERRIKE

Statligt stöd C 16/09 – Hypo Group Alpe Adria (HGAA)

Uppmaning enligt artikel 108.2 i EUF-fördraget att inkomma med synpunkter

(Text av betydelse för EES)

2010/C 266/05

Genom en skrivelse av den 22 juni 2010, som återges på det giltiga språket på de sidor som följer på denna sammanfattning, underrättade kommissionen Österrike om sitt beslut att förlänga godkännandet av det stöd som funnits vara tills vidare förenligt med den inre marknaden och att utvidga förfarandet i enlighet med artikel 108.2 i fördraget om Europeiska unionens funktionssätt.

Berörda parter kan inom två veckor från dagen för offentliggörandet av denna sammanfattning och den därpå följande skrivelsen inkomma med sina synpunkter på de åtgärder avseende vilka kommissionen utvidgar förfarandet. Synpunkterna ska sändas till följande adress:

| Europeiska kommissionen |
| --- |
| Directorate-General for Competition |
| State aid Greffe |
| Kontor: J-70, 03/219 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |
| Fax +32 22961242 |

Europeiska kommissionen

Directorate-General for Competition

State aid Greffe

Kontor: J-70, 03/219

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

Fax +32 22961242

Synpunkterna kommer att meddelas Österrike. Den berörda part som inkommer med synpunkter kan skriftligen begära konfidentiell behandling av sin identitet, med angivande av skälen för begäran.

1.   FÖRFARANDE

Genom ett beslut av den 18 december 2008 i ärende N 615/08 godkände Europeiska kommissionen akut statligt stöd från Tyskland till HGAA:s majoritetsägare BayernLB i form av ett riskskydd på 4,8 miljarder EUR och ett kapitaltillskott på 10 miljarder EUR på grundval av artikel 107.3 b i EUF-fördraget för en period av sex månader eller till dess att en trovärdig och välgrundad omstruktureringsplan för banken hade lagts fram. Detta stöd gjorde det möjligt för BayernLB att skjuta till 700 miljoner EUR till sitt dotterföretag HGAA. Under samma månad beviljade Österrike ett kapitaltillskott till HGAA på 900 miljoner EUR i enlighet med den österrikiska krisstödordningen för banker.

Den 29 april 2009 inkom Tyskland med en anmälan till kommissionen om en omstruktureringsplan för BayernLB, inklusive HGAA. Samma dag presenterade Österrike en lönsamhetsplan för HGAA, vilket fordras för i grunden sunda banker enligt det österrikiska krisstödordningen för banker.

I sitt beslut av den 12 maj 2009 i ärende N 254/09 (beslutet om att inleda förfarandet) uttryckte kommissionen tvivel om huruvida det stöd som beviljats BayernLB var förenligt med den inre marknaden, ifrågasatte att HGAA var sund i grunden och ställde sig tvivlande till att det stöd som Österrike hade beviljat HGGA var förenligt med artikel 107.3 b i EUF-fördraget.

Österrike anmälde ytterligare stödåtgärder den 18 december 2009.

I sitt beslut av den 23 december 2009 i ärende C 16/09 och N 698/09 fann kommissionen att de åtgärder till förmån för HGAA som beskrivs i andra stycket var att anse som tills vidare förenligt med den inre marknaden på grundval av artikel 107.3 b i EUF-fördraget till dess att en trovärdig omstruktureringsplan lagts fram och bedömts av kommissionen, dock under en period av högst sex månader. På samma gång utvidgades förfarandet i enlighet med artikel 108.2 i EUF-fördraget med avseende på dessa ytterligare stödåtgärder.

I april 2010 inkom Österrike med en omstruktureringsplan för HGAA.

Med beaktande av kommissionens pågående bedömning av omstruktureringsplanen och stödet bad Österrike om en förlängning av det tillfälliga godkännandet av stödåtgärderna.

2.   STÖDET TILL HGAA

HGAA erhöll 700 miljoner euro från BayernLB och 900 miljoner EUR i primärt Partizipationskapital från den österrikiska staten och kontokrediter på 1,35 miljarder EUR för obligationsemissioner på grundval av den österrikiska krisstödordningen för banker.

Dessutom erhöll HGAA följande stöd som tillfälligt godkändes genom beslut i december 2009:

| — | En tillfällig garanti på 100 miljoner euro från Österrike enligt villkoren kopplade till banker i svårigheter enligt den österrikiska krisstödordningen för banker. |
| --- | --- |

—

En tillfällig garanti på 100 miljoner euro från Österrike enligt villkoren kopplade till banker i svårigheter enligt den österrikiska krisstödordningen för banker.

| — | En rekapitalisering på 200 miljoner EUR från Land Carinthia med en utdelning på 6 %, som skulle förfalla till betalning för första gången under räkenskapsåret 2013. |
| --- | --- |

—

En rekapitalisering på 200 miljoner EUR från Land Carinthia med en utdelning på 6 %, som skulle förfalla till betalning för första gången under räkenskapsåret 2013.

| — | En ytterligare rekapitalisering på maximalt 350 miljoner EUR från Österrike enligt villkoren kopplade till banker i svårigheter enligt den österrikiska krisstödordningen för banker. |
| --- | --- |

—

En ytterligare rekapitalisering på maximalt 350 miljoner EUR från Österrike enligt villkoren kopplade till banker i svårigheter enligt den österrikiska krisstödordningen för banker.

| — | Likviditetslån på ungefär 200 miljoner EUR från Land Carinthia inom ramen för befintliga affärsförbindelser. |
| --- | --- |

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Likviditetslån på ungefär 200 miljoner EUR från Land Carinthia inom ramen för befintliga affärsförbindelser.

3.   BEDÖMNING

I sina beslut av den 12 maj 2009 och den 23 december 2009 har kommissionen redan fastställt att de stödåtgärder som beviljades till HGAA utgjorde statligt stöd.

Den omstruktureringsplan som lagts fram har ännu inte undanröjt de ursprungliga tvivel rörande stödåtgärdernas förenlighet som kommissionen uttryckte i de två föregående besluten.

När det gäller återställandet av lönsamheten hyser kommissionen tvivel om att bankens övergripande affärsmodell kan återupprätta lönsamheten.

Mot bakgrund av HGAA:s låga värdering och framtida höga finansieringskostnader till följd av att garantierna från Land Carinthia och finansieringsstödet från den förra ägaren BayernLB upphör, frågar sig kommissionen om inte HGAA skulle behöva göra en mer grundläggande ändring av inriktningen på sin affärsmodell, vilket särskilt skulle påverka den delen av dess verksamhet som berör offentliga finanser, som kännetecknas av låga marginaler.

Vidare anser kommissionen att HGAA kommer att konfronteras med avsevärda problem när det gäller tillgångarnas kvalitet på grund av den låga, och stadigt allt sämre, kvaliteten hos dess lån och tvivel på att de underliggande problemen rörande besluts- och riskhanteringsprocesserna kan åtgärdas i tid.

Kommissionen tvivlar också på att banken skulle vara i stånd att ersätta det egna kapitalet såsom anges i meddelandet om omstrukturering där det krävs en tillräcklig avkastning på det egna kapitalet i linje med bankens riskprofil, och på att banken är i stånd att ge en lämplig ersättning med beaktande av normala marknadsvillkor eller alternativt att på sikt återbetala det kapital som tillskjutits av staten.

Dessutom ifrågasätter kommissionen huruvida det kapital som tillskjutits till HGAA av Österrike enligt den österrikiska krisstödordningen för banker ersätts på lämpligt sätt, eftersom banken vid tiden för kapitaltillskottet i december 2008 betraktades som i grunden sund av Österrike och därför åtnjöt lägre räntor. Kommissionen erinrar om att den har ifrågasatt Österrikes bedömning i beslutet från maj 2009 att banken var i grunden sold.

När det gäller åtgärder för att åtgärda snedvridning av konkurrensen, erinrar kommissionen om sina tvivel om att de föreslagna åtgärderna var tillräckliga för att i tillräcklig utsträckning begränsa de snedvridningar som uppkom på grund av stödet. I synnerhet tycks de flesta av de verksamheter som HGAA planerar att avyttra inrikta sig på förlustbringande verksamheter och är sålunda nödvändiga för att återupprätta lönsamheten. Med andra ord frågar sig kommissionen om det inte skulle krävas fler åtgärder för att åtgärda snedvridningarna av konkurrensen till följd av stödet.

SJÄLVA SKRIVELSEN

”The Commission wishes to inform your authorities that it has further extended the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) initiated on 12 May 2009 with its decision C(2009) 3811 final. The Commission also prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan.

1.   PROCEDURE

| (1) | By decision of 18 December 2008 the European Commission approved in case N 615/08 emergency State aid from Germany to BayernLB in form of a risk shield of EUR 4,8 billion and a capital injection of EUR 10 billion on the basis of Article 107(3)(b) TFEU for a period of six months or until the submission of a credible and substantiated restructuring plan for the bank (1). |
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(1)

By decision of 18 December 2008 the European Commission approved in case N 615/08 emergency State aid from Germany to BayernLB in form of a risk shield of EUR 4,8 billion and a capital injection of EUR 10 billion on the basis of Article 107(3)(b) TFEU for a period of six months or until the submission of a credible and substantiated restructuring plan for the bank (1).

| (2) | In the same month, BayernLB's subsidiary Hypo Group Alpe Adria (HGAA) received EUR 700 million from BayernLB following large write-downs and losses. In addition, HGAA received EUR 900 million in Tier 1 Partizipationskapital
   (2) from the Republic of Austria on the basis of the Austrian emergency bank support scheme (3). |
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(2)

In the same month, BayernLB's subsidiary Hypo Group Alpe Adria (HGAA) received EUR 700 million from BayernLB following large write-downs and losses. In addition, HGAA received EUR 900 million in Tier 1 Partizipationskapital
   (2) from the Republic of Austria on the basis of the Austrian emergency bank support scheme (3).

| (3) | On 29 April 2009, Germany notified a restructuring plan for BayernLB (including HGAA) to the Commission. At the same date Austria provided a viability plan for HGAA. |
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(3)

On 29 April 2009, Germany notified a restructuring plan for BayernLB (including HGAA) to the Commission. At the same date Austria provided a viability plan for HGAA.

| (4) | In its decision of 12 May 2009 in case N 254/09 (4) the Commission opened the formal investigation procedure, raising doubts about the compatibility of the restructuring aid to BayernLB with the internal market, in particular whether the restructuring plan was apt to restore the viability of BayernLB (“the opening decision”). In the same decision, the Commission questioned whether HGAA was fundamentally sound and it expressed doubts regarding the compatibility with Article 87(3)(b) of the EC Treaty, now Article 107(3)(b) TFEU, of the aid granted to HGAA by Austria. |
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(4)

In its decision of 12 May 2009 in case N 254/09 (4) the Commission opened the formal investigation procedure, raising doubts about the compatibility of the restructuring aid to BayernLB with the internal market, in particular whether the restructuring plan was apt to restore the viability of BayernLB (“the opening decision”). In the same decision, the Commission questioned whether HGAA was fundamentally sound and it expressed doubts regarding the compatibility with Article 87(3)(b) of the EC Treaty, now Article 107(3)(b) TFEU, of the aid granted to HGAA by Austria.

| (5) | Austria notified additional aid measures on 18 December 2009, including a temporary asset guarantee under the Austrian scheme, a capital injection and a provision of liquidity, see below point 19. |
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(5)

Austria notified additional aid measures on 18 December 2009, including a temporary asset guarantee under the Austrian scheme, a capital injection and a provision of liquidity, see below point 19.

| (6) | In its decision of 23 December 2009 in cases C 16/09 and N 698/09 (5) (“the rescue decision”) the Commission extended the procedure in relation to the following measures in favour of HGAA which it at the same time found temporarily compatible with the internal market on the basis of Article 107(3)(b) TFEU until the submission of a credible restructuring plan and its assessment by the Commission, but at most for a period of six months: a temporary guarantee of EUR 100 million, a recapitalisation of EUR 200 million by Land Carinthia, a further recapitalisation for a maximum amount of EUR 350 million and the liquidity provided by the Land of Carinthia. The measures are described in detail in paragraph 19. |
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(6)

In its decision of 23 December 2009 in cases C 16/09 and N 698/09 (5) (“the rescue decision”) the Commission extended the procedure in relation to the following measures in favour of HGAA which it at the same time found temporarily compatible with the internal market on the basis of Article 107(3)(b) TFEU until the submission of a credible restructuring plan and its assessment by the Commission, but at most for a period of six months: a temporary guarantee of EUR 100 million, a recapitalisation of EUR 200 million by Land Carinthia, a further recapitalisation for a maximum amount of EUR 350 million and the liquidity provided by the Land of Carinthia. The measures are described in detail in paragraph 19.

| (7) | In view of the ongoing assessment of the restructuring plan and aid by the Commission, by letter dated 15 June 2010 Austria asked for a prolongation of the temporary approval of the measures. |
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(7)

In view of the ongoing assessment of the restructuring plan and aid by the Commission, by letter dated 15 June 2010 Austria asked for a prolongation of the temporary approval of the measures.

| (8) | Given the urgency to obtain a Commission Decision before the expiry of the authorisation of the measures, both Germany and Austria have exceptionally agreed that the authentic language for this decision should be English. |
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(8)

Given the urgency to obtain a Commission Decision before the expiry of the authorisation of the measures, both Germany and Austria have exceptionally agreed that the authentic language for this decision should be English.

2.   DESCRIPTION

| (9) | For a detailed description of the beneficiary and the aid measures, reference is made to the opening decision and the rescue decision. |
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(9)

For a detailed description of the beneficiary and the aid measures, reference is made to the opening decision and the rescue decision.

2.1.   The beneficiary

| (10) | HGAA is the sixth largest Austrian bank with a balance sheet of EUR 41 billion as of 31 December 2009, corresponding to roughly 15 % of Austrian GDP. |
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(10)

HGAA is the sixth largest Austrian bank with a balance sheet of EUR 41 billion as of 31 December 2009, corresponding to roughly 15 % of Austrian GDP.

| (11) | HGAA is fully owned by the Austrian State after the nationalisation of 23 December 2009. |
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(11)

HGAA is fully owned by the Austrian State after the nationalisation of 23 December 2009.

| (12) | HGAA is active in 12 countries (Austria, Italy, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Liechtenstein (in liquidation), Hungary, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine). The business in Liechtenstein is in liquidation. The bank is active in both banking and leasing, but does not pursue both activities in all the countries mentioned above. |
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(12)

HGAA is active in 12 countries (Austria, Italy, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Liechtenstein (in liquidation), Hungary, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine). The business in Liechtenstein is in liquidation. The bank is active in both banking and leasing, but does not pursue both activities in all the countries mentioned above.

| (13) | HGAA had pursued an aggressive growth strategy, in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. In the past decade, HGAA entered Bosnia-Herzegovina, Serbia, Montenegro, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine. In addition to those markets, the group also entered Hungary and Germany during that period. |
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(13)

HGAA had pursued an aggressive growth strategy, in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. In the past decade, HGAA entered Bosnia-Herzegovina, Serbia, Montenegro, Bulgaria, the Former Yugoslav Republic of Macedonia and Ukraine. In addition to those markets, the group also entered Hungary and Germany during that period.

| (14) | The bank has a substantial market shares in some of the South-Eastern European countries in which it is active: its market share in banking amounts to [> 10 %] (6) in Montenegro and [> 8 %] in Croatia, and its market share in leasing amounts to over [> 15 %] in Croatia and Slovenia, [> 20 %] in FYRoM and [> 30 %] in Montenegro. The expansion strategy of the bank was facilitated by the liability guarantees of the Land (federal State) Carinthia amounting to about EUR 19 billion at the end of 2009, which has enabled the bank to borrow money at favourable conditions (7). |
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(14)

The bank has a substantial market shares in some of the South-Eastern European countries in which it is active: its market share in banking amounts to [> 10 %] (6) in Montenegro and [> 8 %] in Croatia, and its market share in leasing amounts to over [> 15 %] in Croatia and Slovenia, [> 20 %] in FYRoM and [> 30 %] in Montenegro. The expansion strategy of the bank was facilitated by the liability guarantees of the Land (federal State) Carinthia amounting to about EUR 19 billion at the end of 2009, which has enabled the bank to borrow money at favourable conditions (7).

| (15) | Following the prospect of large losses and write-downs, Austria acquired from each of the previous owners all shares by contract for the symbolic price of one Euro per owner in December 2009. |
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(15)

Following the prospect of large losses and write-downs, Austria acquired from each of the previous owners all shares by contract for the symbolic price of one Euro per owner in December 2009.

| (16) | HGAA has a rating below investment grade from Moody's (Baa2/P2/E) with a negative outlook. |
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(16)

HGAA has a rating below investment grade from Moody's (Baa2/P2/E) with a negative outlook.

2.2.   The measures

| (17) | In December 2008, HGAA received EUR 700 million from its majority owner at the time, BayernLB, which itself had received State aid in the same month from the Free State of Bavaria. |
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(17)

In December 2008, HGAA received EUR 700 million from its majority owner at the time, BayernLB, which itself had received State aid in the same month from the Free State of Bavaria.

| (18) | HGAA received EUR 900 million in Tier 1 Partizipationskapital from the Republic of Austria and liquidity guarantees of EUR 1,35 billion for bond issues on the basis of the Austrian emergency bank support scheme. |
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(18)

HGAA received EUR 900 million in Tier 1 Partizipationskapital from the Republic of Austria and liquidity guarantees of EUR 1,35 billion for bond issues on the basis of the Austrian emergency bank support scheme.

| (19) | In addition, HGAA received the following aid measures temporarily authorised by the Commission's December 2009 decision:






  — | a temporary guarantee of EUR 100 million by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme, |
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(19)

In addition, HGAA received the following aid measures temporarily authorised by the Commission's December 2009 decision:

—

a temporary guarantee of EUR 100 million by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme,

| — | a recapitalisation of EUR 200 million by the Land Carinthia with a dividend of 6 %, which will be due for the first time for the business year 2013, |
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—

a recapitalisation of EUR 200 million by the Land Carinthia with a dividend of 6 %, which will be due for the first time for the business year 2013,

| — | a further recapitalisation by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme for a maximum amount of EUR 350 million, |
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—

a further recapitalisation by Austria under the conditions for distressed banks under the Austrian emergency bank support scheme for a maximum amount of EUR 350 million,

| — | liquidity measures amounting to approximately EUR 200 million provided by the Land Carinthia in the context of existing business relationships. |
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—

liquidity measures amounting to approximately EUR 200 million provided by the Land Carinthia in the context of existing business relationships.

3.   THE RESTRUCTURING PLAN

| (20) | According to the submitted restructuring plan the problems of HGAA are largely due to its aggressive growth strategy pursued in recent years which in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. The economic conditions of these countries have deteriorated significantly as a prolonged period of strong economic growth has given way to significant declines of real and nominal GDP. Moreover, losses and in particular the increasingly large share of non-performing loans were to a significant extent caused by a lack of [...] proper control mechanisms [...]. |
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(20)

According to the submitted restructuring plan the problems of HGAA are largely due to its aggressive growth strategy pursued in recent years which in particular aimed at taking advantage of the rapidly growing markets in South-Eastern Europe. The economic conditions of these countries have deteriorated significantly as a prolonged period of strong economic growth has given way to significant declines of real and nominal GDP. Moreover, losses and in particular the increasingly large share of non-performing loans were to a significant extent caused by a lack of [...] proper control mechanisms [...].

| (21) | The submitted restructuring plan states that HGAA will continue doing business in Austria, with a strong focus on Carinthia, where it intends to pursue business in the areas of retail clients, SMEs and selective corporate and public finance. The bank envisages maintaining both banking and leasing activities in [most countries of the former Federal Republic of Yugoslavia]. However, it intends to terminate its leasing activities in [...]. Leasing and banking activities will be ended in [...]. In Austria, the bank also plans to discontinue its cross-border financing business and the financing of big ticket projects. HGAA moreover plans to cease its risky project finance activities and tourism projects as well as large tourism-based financing activities. Leasing activities will focus on small vehicle and other mobile assets. The new business for real estate is planned to focus on selective opportunities only. |
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(21)

The submitted restructuring plan states that HGAA will continue doing business in Austria, with a strong focus on Carinthia, where it intends to pursue business in the areas of retail clients, SMEs and selective corporate and public finance. The bank envisages maintaining both banking and leasing activities in [most countries of the former Federal Republic of Yugoslavia]. However, it intends to terminate its leasing activities in [...]. Leasing and banking activities will be ended in [...]. In Austria, the bank also plans to discontinue its cross-border financing business and the financing of big ticket projects. HGAA moreover plans to cease its risky project finance activities and tourism projects as well as large tourism-based financing activities. Leasing activities will focus on small vehicle and other mobile assets. The new business for real estate is planned to focus on selective opportunities only.

| (22) | The overall aim of the restructuring plan is to focus on small/retail business with less risk than before, which, according to the bank, will enable it to rely on historically grown competences, in which the bank has made profits in the past, including during the financial crisis. The plan provides for a balance sheet reduction amounting to [> 35] % by the end of the restructuring period and a reduction of the risk weighted assets by [> 50] % compared to the 2008 balance sheet. The reduction is achieved mainly through putting some banks and leasing activities in a run off mode or divesting them as explained in paragraph 20. |
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(22)

The overall aim of the restructuring plan is to focus on small/retail business with less risk than before, which, according to the bank, will enable it to rely on historically grown competences, in which the bank has made profits in the past, including during the financial crisis. The plan provides for a balance sheet reduction amounting to [> 35] % by the end of the restructuring period and a reduction of the risk weighted assets by [> 50] % compared to the 2008 balance sheet. The reduction is achieved mainly through putting some banks and leasing activities in a run off mode or divesting them as explained in paragraph 20.

| (23) | The bank also plans to overhaul many of its procedures as regards credit and leasing decisions as well as its overall risk management framework. It intends to start an annual risk review, to assess the risks inherent to any new product it launches and has already started to apply a reworked method of calculating its risk absorption quality on a group level since June 2009. As a result of this process, HGAA claims having already identified its major risk types. |
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(23)

The bank also plans to overhaul many of its procedures as regards credit and leasing decisions as well as its overall risk management framework. It intends to start an annual risk review, to assess the risks inherent to any new product it launches and has already started to apply a reworked method of calculating its risk absorption quality on a group level since June 2009. As a result of this process, HGAA claims having already identified its major risk types.

| (24) | According to the plan the economic problems of HGAA were significantly influenced by the current financial crisis which affected markets in South-Eastern Europe particularly strongly. HGAA admits in that respect that quality of its assets has deteriorated significantly, with only [< 40] % of its gross exposure having an internal investment grade rating and with the share of problem loans (8) when compared to gross exposure increasing steadily since the beginning of 2008, reaching almost [> 15] % of the bank's gross exposure. In 2009, the amount of risk provisions of HGAA reached almost [> 150] % of the bank's net interest revenues of that year. It has to be noted that the leasing activities were to a significant degree responsible for the encountered asset problems. |
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(24)

According to the plan the economic problems of HGAA were significantly influenced by the current financial crisis which affected markets in South-Eastern Europe particularly strongly. HGAA admits in that respect that quality of its assets has deteriorated significantly, with only [< 40] % of its gross exposure having an internal investment grade rating and with the share of problem loans (8) when compared to gross exposure increasing steadily since the beginning of 2008, reaching almost [> 15] % of the bank's gross exposure. In 2009, the amount of risk provisions of HGAA reached almost [> 150] % of the bank's net interest revenues of that year. It has to be noted that the leasing activities were to a significant degree responsible for the encountered asset problems.

| (25) | The plan is based on the assumption of a significant turnaround in the markets in which the bank is active, forecasting a return to robust rates of growth in the South-Eastern European countries. |
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(25)

The plan is based on the assumption of a significant turnaround in the markets in which the bank is active, forecasting a return to robust rates of growth in the South-Eastern European countries.

4.   ASSESSMENT OF THE AID

4.1.   Existence of aid

| (26) | As stated in Article 107(1) TFEU, any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market, save as otherwise provided in the Treaty. |
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(26)

As stated in Article 107(1) TFEU, any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market, save as otherwise provided in the Treaty.

| (27) | The Commission recalls that is has already established that the measures granted to HGAA constitute State aid with its Decisions of 12 May 2009 and 23 December 2009. |
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(27)

The Commission recalls that is has already established that the measures granted to HGAA constitute State aid with its Decisions of 12 May 2009 and 23 December 2009.

4.2.   Compatibility of the Aid

| (28) | The Commission must assess the continuation of all emergency aid measures as restructuring aid, on the basis of the submitted restructuring plan and against the conditions of the Restructuring Communication (9). |
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(28)

The Commission must assess the continuation of all emergency aid measures as restructuring aid, on the basis of the submitted restructuring plan and against the conditions of the Restructuring Communication (9).

| (29) | A restructuring plan needs to ensure that the bank is able to restore long-term viability without continued State aid. The restructuring plan also needs to provide for adequate burden sharing, and limit the aid to the minimum necessary. Finally, proportionate measures need to be taken to limit the distortions of competition caused by the aid. |
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(29)

A restructuring plan needs to ensure that the bank is able to restore long-term viability without continued State aid. The restructuring plan also needs to provide for adequate burden sharing, and limit the aid to the minimum necessary. Finally, proportionate measures need to be taken to limit the distortions of competition caused by the aid.

| (30) | The original doubts expressed in decision of 23 December 2009 have not yet been allayed by the submission of the restructuring plan described above. Therefore the Commission continues to have doubts as regards the compatibility of the aid. |
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(30)

The original doubts expressed in decision of 23 December 2009 have not yet been allayed by the submission of the restructuring plan described above. Therefore the Commission continues to have doubts as regards the compatibility of the aid.

| (31) | As regards the restoration of viability the Commission firstly has doubts as regards the overall business model of the bank, i.e. whether the presented plan of maintaining some parts of the business in South-Eastern Europe (while divesting or winding down others) combined with the Austrian activities will enable the bank to create sufficient profits to ensure long-term viability. |
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(31)

As regards the restoration of viability the Commission firstly has doubts as regards the overall business model of the bank, i.e. whether the presented plan of maintaining some parts of the business in South-Eastern Europe (while divesting or winding down others) combined with the Austrian activities will enable the bank to create sufficient profits to ensure long-term viability.

| (32) | Importantly, the plan does not show in a satisfactory manner that HGAA will indeed, as claimed, concentrate on activities where it has also made profits in the past, including during the financial crisis. |
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(32)

Importantly, the plan does not show in a satisfactory manner that HGAA will indeed, as claimed, concentrate on activities where it has also made profits in the past, including during the financial crisis.

| (33) | The Commission furthermore questions whether the largely unregulated leasing activities would not need to be scaled down further, given that they seem to have been one of the main sources of HGAA's problems in the past. |
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(33)

The Commission furthermore questions whether the largely unregulated leasing activities would not need to be scaled down further, given that they seem to have been one of the main sources of HGAA's problems in the past.

| (34) | In addition, given HGAA's low rating and prospective high funding costs in light of the expiration of the guarantees from the Land Carinthia and funding support from its former owner BayernLB, the Commission questions whether HGAA will not have to reorient its business model more profoundly, which might in particular affect its public finance business, which is characterised by relatively low margins. |
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(34)

In addition, given HGAA's low rating and prospective high funding costs in light of the expiration of the guarantees from the Land Carinthia and funding support from its former owner BayernLB, the Commission questions whether HGAA will not have to reorient its business model more profoundly, which might in particular affect its public finance business, which is characterised by relatively low margins.

| (35) | Furthermore, the Commission considers that HGAA has to cope with significant problems given the low and still deteriorating quality of its asset portfolio. In that regard it can be considered as a difficult task to overhaul many of the basic decision-making processes and its overall risk management processes. The Commission doubts whether such a large task can be implemented timely, given the complexity of HGAA in many countries while avoiding further problem exposures. The Commission also considers that a significant part of the problems encountered by HGAA were not mainly the result of the deterioration of the economic situation in South-Eastern Europe but rather of deep-rooted management problems. |
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(35)

Furthermore, the Commission considers that HGAA has to cope with significant problems given the low and still deteriorating quality of its asset portfolio. In that regard it can be considered as a difficult task to overhaul many of the basic decision-making processes and its overall risk management processes. The Commission doubts whether such a large task can be implemented timely, given the complexity of HGAA in many countries while avoiding further problem exposures. The Commission also considers that a significant part of the problems encountered by HGAA were not mainly the result of the deterioration of the economic situation in South-Eastern Europe but rather of deep-rooted management problems.

| (36) | The Commission recalls that it noted in the rescue decision of 23 December 2009 that the external report commissioned by HGAA and BayernLB has found serious problems in the credit monitoring procedures of HGAA as well as in its collateral valuation. As a result the previously projected potential losses could well increase still further, in particular if the benign view concerning loss-given-default ratios were not to materialise. Moreover, the Commission doubts that the scenarios applied by the external consultants at that time were sufficiently prudent in relation to “a protracted global recession” as specified in point 13 of the Restructuring Communication. Therefore, the Commission continues to have these doubts in relation to the return to long-term viability of the rescued HGAA. |
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(36)

The Commission recalls that it noted in the rescue decision of 23 December 2009 that the external report commissioned by HGAA and BayernLB has found serious problems in the credit monitoring procedures of HGAA as well as in its collateral valuation. As a result the previously projected potential losses could well increase still further, in particular if the benign view concerning loss-given-default ratios were not to materialise. Moreover, the Commission doubts that the scenarios applied by the external consultants at that time were sufficiently prudent in relation to “a protracted global recession” as specified in point 13 of the Restructuring Communication. Therefore, the Commission continues to have these doubts in relation to the return to long-term viability of the rescued HGAA.

| (37) | In addition to these previously expressed doubts the Commission is concerned about the seemingly [...] deterioration of asset quality and considers that this could constitute a major threat to HGAA's viability, which is not addressed by the restructuring plan. |
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(37)

In addition to these previously expressed doubts the Commission is concerned about the seemingly [...] deterioration of asset quality and considers that this could constitute a major threat to HGAA's viability, which is not addressed by the restructuring plan.

| (38) | Moreover, the Commission questions whether the unsatisfactory rating of HGAA can be improved sufficiently over the course of the restructuring period in order to enable the bank to raise both capital and funding on the markets, which is a crucial prerequisite for the proposed business model of the bank. The Commission notes in this respect that the expiry of the liability guarantees of the Land Carinthia entails the risk of rising long-term funding costs for the bank. Furthermore, the Commission has to examine whether the submitted underlying economic assumptions included in the plan are prudent enough. |
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(38)

Moreover, the Commission questions whether the unsatisfactory rating of HGAA can be improved sufficiently over the course of the restructuring period in order to enable the bank to raise both capital and funding on the markets, which is a crucial prerequisite for the proposed business model of the bank. The Commission notes in this respect that the expiry of the liability guarantees of the Land Carinthia entails the risk of rising long-term funding costs for the bank. Furthermore, the Commission has to examine whether the submitted underlying economic assumptions included in the plan are prudent enough.

| (39) | In addition, the Commission doubts that the bank would be able to remunerate its own capital as required under points 13 and 14 of the Restructuring Communication which requires an appropriate return given the risk profile of the bank and a remuneration at normal market conditions or the repayment of capital over time. |
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(39)

In addition, the Commission doubts that the bank would be able to remunerate its own capital as required under points 13 and 14 of the Restructuring Communication which requires an appropriate return given the risk profile of the bank and a remuneration at normal market conditions or the repayment of capital over time.

| (40) | As regards burden sharing, the Commission recalls its doubts as to whether the burden sharing of the owners (in particular BayernLB, Land Carinthia, GRAWE) has been appropriate. |
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(40)

As regards burden sharing, the Commission recalls its doubts as to whether the burden sharing of the owners (in particular BayernLB, Land Carinthia, GRAWE) has been appropriate.

| (41) | In addition, the Commission questions whether the injected capital into HGAA by Austria under the Austrian bank scheme is appropriately remunerated as the bank had been considered as fundamentally sound by Austria and benefitted therefore from cheaper remuneration rates. The Commission recalls that it has questioned that assessment at the time Austria submitted its viability report for the bank and in the opening decision. |
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(41)

In addition, the Commission questions whether the injected capital into HGAA by Austria under the Austrian bank scheme is appropriately remunerated as the bank had been considered as fundamentally sound by Austria and benefitted therefore from cheaper remuneration rates. The Commission recalls that it has questioned that assessment at the time Austria submitted its viability report for the bank and in the opening decision.

| (42) | As regards measures for addressing competition distortions, the Commission recalls its doubts that the proposed measures are sufficient to adequately limit the distortions created by the aid. In particular, most of business HGAA plans to divest seems to concern loss-making activities and be necessary for restoring viability. In other words, the Commission doubts whether not more measures are needed to address the distortions of competition caused by the aid. |
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(42)

As regards measures for addressing competition distortions, the Commission recalls its doubts that the proposed measures are sufficient to adequately limit the distortions created by the aid. In particular, most of business HGAA plans to divest seems to concern loss-making activities and be necessary for restoring viability. In other words, the Commission doubts whether not more measures are needed to address the distortions of competition caused by the aid.

5.   CONCLUSION

| (43) | All measures in favour of HGAA constitute State aid. The Commission still doubts the compatibility of the aid measures as regards the restoration of long-term viability, burden sharing and measures to limit distortions of competition. |
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(43)

All measures in favour of HGAA constitute State aid. The Commission still doubts the compatibility of the aid measures as regards the restoration of long-term viability, burden sharing and measures to limit distortions of competition.

| (44) | In light of the doubts regarding the compatibility of the aid with the Restructuring Communication, in particular the failure of the current revised restructuring plan to demonstrate the restoration of viability, proper burden sharing and a sufficient degree of mitigation of competition distortions, the Commission needs to further investigate the measures and thus to extend the formal investigation procedure pursuant to Article 108(2) TFEU. |
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(44)

In light of the doubts regarding the compatibility of the aid with the Restructuring Communication, in particular the failure of the current revised restructuring plan to demonstrate the restoration of viability, proper burden sharing and a sufficient degree of mitigation of competition distortions, the Commission needs to further investigate the measures and thus to extend the formal investigation procedure pursuant to Article 108(2) TFEU.

| (45) | However, the Commission has established that it can authorise emergency measures temporarily if needed for reasons of financial stability (10), when it cannot take a final decision due to doubts on compatibility of the measures as restructuring aid. In light of the ongoing fragile situation of the financial markets the Commission bases its assessment on Article 107(3)(b) TFEU as the breakdown of a systematically relevant bank can directly affect the financial markets and indirectly the entire economy of a Member State. |
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(45)

However, the Commission has established that it can authorise emergency measures temporarily if needed for reasons of financial stability (10), when it cannot take a final decision due to doubts on compatibility of the measures as restructuring aid. In light of the ongoing fragile situation of the financial markets the Commission bases its assessment on Article 107(3)(b) TFEU as the breakdown of a systematically relevant bank can directly affect the financial markets and indirectly the entire economy of a Member State.

| (46) | The Austrian Central Bank has confirmed that HGAA is a bank with systemic relevance for the financial market in Austria but also in certain countries in South Eastern Europe. Therefore the Commission prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan. |
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(46)

The Austrian Central Bank has confirmed that HGAA is a bank with systemic relevance for the financial market in Austria but also in certain countries in South Eastern Europe. Therefore the Commission prolongs the authorisation of the aid it has temporarily found compatible with the internal market until it has concluded its examination of the restructuring plan.

6.   DECISION

In view of the above, the Commission has decided:

| — | to further extend the procedure as laid down in Article 108(2) TFEU initiated with its decision C(2009) 3811 final of 12 May 2009 and extended with its decision C(2009) 10672 final of 23 December 2009, and |
| --- | --- |

—

to further extend the procedure as laid down in Article 108(2) TFEU initiated with its decision C(2009) 3811 final of 12 May 2009 and extended with its decision C(2009) 10672 final of 23 December 2009, and

| — | to prolong the authorisation of the aid it has temporarily found compatible with the internal market by Decision C(2009) 10672 final until it has concluded the examination of the restructuring plan for Hypo Group Alpe Adria. |
| --- | --- |

—

to prolong the authorisation of the aid it has temporarily found compatible with the internal market by Decision C(2009) 10672 final until it has concluded the examination of the restructuring plan for Hypo Group Alpe Adria.

The Commission requests Austria to provide all information necessary for the Commission to assess the compatibility of the aid measures. Austria is requested to forward a copy of this letter to HGAA immediately.

The Commission warns Austria that it will inform interested parties by publishing this letter and a meaningful summary of it in the Official Journal of the European Union. It will also inform interested parties in the EFTA countries which are signatories to the EEA Agreement, by publishing a notice in the EEA Supplement to the Official Journal of the European Union, and will inform the EFTA Surveillance Authority by sending a copy of this letter. All such interested parties will be invited to submit their comments within one month of the date of such publication.”

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(1)  Commission Decision of 18 December 2008 in case N 615/08 BayernLB, OJ C 80/4 of 3 April 2009.

1

BayernLB

(2)  Partizipationskapital has no voting rights.

2

Partizipationskapital

(3)  Commission Decision of 9 December 2008 in case N 557/08, OJ C 3, 8.1.2009, p. 2, Maßnahmen nach dem Finanzmarktstabilitäts- und dem Interbankmarktstärkungsgesetz für Kreditinstitute und Versicherungsunternehmen in Österreich, last prolonged by Commission Decision of 16 December 2009 in case N 663/09.

3

(4)  OJ C 134, 13.6.2009, p. 31.

4

(5)  OJ C 85, 31.3.2010, p. 21.

5

(6)  Confidential information.

6

(7)  This stems from the previously prevailing State guarantees for new debt (“Ausfallshaftung”) from the Land Carinthia which was abolished with a transitional period and a grandfathering clause in 2003.

7

(8)  Defined as a high likelihood that the borrower cannot repay the loan, or if the payments are more then 90 days overdue. Taking into account the lower payment morale in some of the markets where HGAA operates, the bank has replaced the 90 days criterion with a 180 days criterion in some countries.

8

(9)  Commission Communication on the return to viability and the assessment of restructuring measures in the financial sector in the current crisis under the State aid rules (OJ C 195, 19.8.2009, p. 9).

9

(10)  Commission Decision of 13 November in case C 15/08, Hypo RealEstate, not yet published, and Commission Decision of 31 March 2009 in case C 10/09 ING (OJ C 158, 11.7.2009, p. 13).

10

Hypo RealEstate

ING

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| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/11 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/11

---

Förhandsanmälan av en koncentration

(Ärende COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45)

(Text av betydelse för EES)

2010/C 266/06

| 1. | Kommissionen mottog den 23 september 2010 en anmälan om en föreslagen koncentration enligt artikel 4 i rådets förordning (EG) nr 139/2004 (1), genom vilken företagen Finavias S.à r.l (Finavias, Luxemburg), kontrollerat av AXA Investment Managers Private Equity SA (AXA Private Equity, Frankrike), som tillhör AXA-koncernen (AXA, Frankrike), och Iberpistas, kontrollerat av Abertis Infraestructuras, SA (Abertis, Spanien), på det sätt som avses i artikel 3.1 b i EG:s koncentrationsförordningen, förvärvar gemensam kontroll över företaget Autopista Trados M-45 (Trados M-45, Spanien), genom förvärv av aktier. |
| --- | --- |

1.

Kommissionen mottog den 23 september 2010 en anmälan om en föreslagen koncentration enligt artikel 4 i rådets förordning (EG) nr 139/2004 (1), genom vilken företagen Finavias S.à r.l (Finavias, Luxemburg), kontrollerat av AXA Investment Managers Private Equity SA (AXA Private Equity, Frankrike), som tillhör AXA-koncernen (AXA, Frankrike), och Iberpistas, kontrollerat av Abertis Infraestructuras, SA (Abertis, Spanien), på det sätt som avses i artikel 3.1 b i EG:s koncentrationsförordningen, förvärvar gemensam kontroll över företaget Autopista Trados M-45 (Trados M-45, Spanien), genom förvärv av aktier.

| 2. | De berörda företagen bedriver följande affärsverksamhet:






  — | Finavias: Riskkapital och kapitalförvaltningsverksamhet, |
| --- | --- | --- |

2.

De berörda företagen bedriver följande affärsverksamhet:

—

Finavias: Riskkapital och kapitalförvaltningsverksamhet,

| — | AXA Private Equity: Kapitalförvaltning som omfattar investeringar i icke börsnoterade företag eller investeringsfonder. Företaget tillhör AXA, en internationell koncern verksam inom tillhandahållande av livförsäkring och skadeförsäkring, samt liknande finansiella tjänster, |
| --- | --- |

—

AXA Private Equity: Kapitalförvaltning som omfattar investeringar i icke börsnoterade företag eller investeringsfonder. Företaget tillhör AXA, en internationell koncern verksam inom tillhandahållande av livförsäkring och skadeförsäkring, samt liknande finansiella tjänster,

| — | Abertis: Infrastruktur för transport och telekommunikation inom verksamhetsområden som baseras på betalning av avgifter – avgiftsbelagda vägar, infrastruktur för telekommunikation, flygplatser, parkeringsplatser och logistik, |
| --- | --- |

—

Abertis: Infrastruktur för transport och telekommunikation inom verksamhetsområden som baseras på betalning av avgifter – avgiftsbelagda vägar, infrastruktur för telekommunikation, flygplatser, parkeringsplatser och logistik,

| — | Trados M-45: Förvaltning av vägavgifter. |
| --- | --- |

—

Trados M-45: Förvaltning av vägavgifter.

| 3. | Kommissionen har vid en preliminär granskning kommit fram till att den anmälda koncentrationen kan omfattas av EG:s koncentrationsförordning, dock med det förbehållet att ett slutligt beslut i denna fråga fattas senare. |
| --- | --- |

3.

Kommissionen har vid en preliminär granskning kommit fram till att den anmälda koncentrationen kan omfattas av EG:s koncentrationsförordning, dock med det förbehållet att ett slutligt beslut i denna fråga fattas senare.

| 4. | Kommissionen uppmanar berörda tredje parter att till den lämna eventuella synpunkter på den föreslagna koncentrationen.
  Synpunkterna ska ha kommit in till kommissionen senast tio dagar efter detta offentliggörande. Synpunkterna kan sändas till kommissionen per fax (+32 22964301), per e-post till COMP-MERGER-REGISTRY@ec.europa.eu eller per post, med angivande av referens COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, till:





  Europeiska kommissionen |
| --- | --- |
| Generaldirektoratet för konkurrens |
| Registratorskontoret ”Företagskoncentrationer och -fusioner” |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Kommissionen uppmanar berörda tredje parter att till den lämna eventuella synpunkter på den föreslagna koncentrationen.

Synpunkterna ska ha kommit in till kommissionen senast tio dagar efter detta offentliggörande. Synpunkterna kan sändas till kommissionen per fax (+32 22964301), per e-post till COMP-MERGER-REGISTRY@ec.europa.eu eller per post, med angivande av referens COMP/M.5974 – Finavias/Abertis/Autopista Trados M-45, till:

Europeiska kommissionen

Generaldirektoratet för konkurrens

Registratorskontoret ”Företagskoncentrationer och -fusioner”

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  EUT L 24, 29.1.2004, s. 1 (EG:s koncentrationsförordning).

---

| 1.10.2010 | SV | Europeiska unionens officiella tidning | C 266/12 |
| --- | --- | --- | --- |

1.10.2010

SV

Europeiska unionens officiella tidning

C 266/12

---

Förhandsanmälan av en koncentration

(Ärende COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV)

Ärendet kan komma att handläggas enligt ett förenklat förfarande

(Text av betydelse för EES)

2010/C 266/07

| 1. | Kommissionen mottog den 22 september 2010 en anmälan om en föreslagen koncentration enligt artikel 4 i rådets förordning (EG) nr 139/2004 (1), genom vilken företaget Apotheek DocMorris N.V. (Nederländerna), som tillhör koncernen Haniel, och företaget K-mail Order GmbH & Co KG (Tyskland) på det sätt som avses i artikel 3.1 b i EG:s koncentrationsförordningen, förvärvar gemensam kontroll över företaget Wellsana B.V. (Nederländerna) genom förvärv av aktier i ett nyskapat företag som utgör ett gemensamt företag. |
| --- | --- |

1.

Kommissionen mottog den 22 september 2010 en anmälan om en föreslagen koncentration enligt artikel 4 i rådets förordning (EG) nr 139/2004 (1), genom vilken företaget Apotheek DocMorris N.V. (Nederländerna), som tillhör koncernen Haniel, och företaget K-mail Order GmbH & Co KG (Tyskland) på det sätt som avses i artikel 3.1 b i EG:s koncentrationsförordningen, förvärvar gemensam kontroll över företaget Wellsana B.V. (Nederländerna) genom förvärv av aktier i ett nyskapat företag som utgör ett gemensamt företag.

| 2. | De berörda företagen bedriver följande affärsverksamhet:






  — | Apotheek DocMorris N.V.: Detaljhandel med apoteksvaror via ett apotek, |
| --- | --- | --- |

2.

De berörda företagen bedriver följande affärsverksamhet:

—

Apotheek DocMorris N.V.: Detaljhandel med apoteksvaror via ett apotek,

| — | K-mail Order GmbH & Co KG: Detaljhandel med mode, smycken, hushålls- och hälsoartiklar. |
| --- | --- |

—

K-mail Order GmbH & Co KG: Detaljhandel med mode, smycken, hushålls- och hälsoartiklar.

| 3. | Kommissionen har vid en preliminär granskning kommit fram till att den anmälda koncentrationen kan omfattas av EG:s koncentrationsförordning, dock med det förbehållet att ett slutligt beslut i denna fråga fattas senare. Det bör noteras att detta ärende kan komma att handläggas enligt ett förenklat förfarande, i enlighet med kommissionens tillkännagivande om ett förenklat förfarande för handläggning av vissa koncentrationer enligt EG:s koncentrationsförordning (2). |
| --- | --- |

3.

Kommissionen har vid en preliminär granskning kommit fram till att den anmälda koncentrationen kan omfattas av EG:s koncentrationsförordning, dock med det förbehållet att ett slutligt beslut i denna fråga fattas senare. Det bör noteras att detta ärende kan komma att handläggas enligt ett förenklat förfarande, i enlighet med kommissionens tillkännagivande om ett förenklat förfarande för handläggning av vissa koncentrationer enligt EG:s koncentrationsförordning (2).

| 4. | Kommissionen uppmanar berörda tredje parter att till den lämna eventuella synpunkter på den föreslagna koncentrationen.
  Synpunkterna ska ha kommit in till kommissionen senast tio dagar efter detta offentliggörande. Synpunkterna kan sändas till kommissionen per fax (+32 22964301), per e-post till COMP-MERGER-REGISTRY@ec.europa.eu eller per post, med angivande av referens COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, till





  Europeiska kommissionen |
| --- | --- |
| Generaldirektoratet för konkurrens |
| Registratorskontoret ”Företagskoncentrationer och -fusioner” |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

Kommissionen uppmanar berörda tredje parter att till den lämna eventuella synpunkter på den föreslagna koncentrationen.

Synpunkterna ska ha kommit in till kommissionen senast tio dagar efter detta offentliggörande. Synpunkterna kan sändas till kommissionen per fax (+32 22964301), per e-post till COMP-MERGER-REGISTRY@ec.europa.eu eller per post, med angivande av referens COMP/M.5994 – Apotheek Docmorris/K-Mail Order/JV, till

Europeiska kommissionen

Generaldirektoratet för konkurrens

Registratorskontoret ”Företagskoncentrationer och -fusioner”

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  EUT L 24, 29.1.2004, s. 1 (EG:s koncentrationsförordning).

(2)  EUT C 56, 5.3.2005, s. 32 (Tillkännagivande om ett förenklat förfarande).

---